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Disclosure, transparency, and market discipline
Freixas, Xavier; Laux, Christian - 2011
The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis. We consider two main sources of information to the market, financial statements and information provided by credit rating agencies. We examine how these sources of information...
Persistent link: https://www.econbiz.de/10008934782
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Determinants of corporate carbon disclosure : a step towards sustainability reporting
Desai, Rajesh - In: Borsa Istanbul Review 22 (2022) 5, pp. 886-896
Present research is aimed to examine the factors affecting the disclosure of corporate carbon emission. Investors, especially shareholders, largely rely upon the disclosure of financial and other data to determine the firm value. However, disclosure of environmental performance such as carbon...
Persistent link: https://www.econbiz.de/10013426699
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The effects of mandatory ESG disclosure around the world
Krüger, Philipp; Sautner, Zacharias; Tang, Dragon Yongjun - 2021
increases the availability and quality of ESG reporting, especially among firms with low ESG performance. Mandatory ESG … reporting has in turn beneficial effects on firm’s information environment: analysts’ earnings forecasts become more accurate …
Persistent link: https://www.econbiz.de/10012612732
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A Preliminary Analysis of SASB Reporting : Disclosure Topics, Financial Relevance, and the Financial Intensity of ESG Materiality
Busco, Cristiano - 2020
that established measurement and reporting criteria for companies' material environment, social, and governance (ESG …) issues. By introducing the concept of financial relevance of materiality, we present an analysis of the quality of reporting … reporting according to SASB's standards is still small, our results are encouraging, showing, on average, good to very good …
Persistent link: https://www.econbiz.de/10012840187
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Does Disclosure Regulation Work? Evidence from International IPO Markets
Shi, Charles - 2012
This study examines whether IPO disclosure requirements mandated by countries' securities laws are associated with variation in IPO underpricing in international IPO markets. Our empirical analysis uses a unique sample of 6,025 IPOs from 34 countries over the period from 1995 to 2002. We show...
Persistent link: https://www.econbiz.de/10013112428
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Asset Liquidity and Stock Liquidity : International Evidence
Charoenwong, Charlie - 2013
This study examines the relation between asset liquidity and stock liquidity across 47 countries. In support of the valuation uncertainty hypothesis, we find that firms with greater asset liquidity on average have higher stock liquidity. More importantly, our study shows that asset liquidity...
Persistent link: https://www.econbiz.de/10013071686
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Global Accounting Standards, Financial Statement Comparability, and the Cost of Capital
Huang, Yong - 2020
This paper studies how financial statement comparability affects the cost of capital and investor welfare. We show that the cost of capital decreases with comparability if and only if the quality of accounting standards is sufficiently high, thus supporting the relative importance of...
Persistent link: https://www.econbiz.de/10012846301
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IFRS Reporting, Firm-Specific Information Flows, and Institutional Environments : International Evidence
Kim, Jeong-Bon - 2012
This study investigates whether and how a firm's voluntary adoption of International Financial Reporting Standards … reporting and synchronicity. Using firm-level data from 34 countries, we find that synchronicity is significantly lower for IFRS …
Persistent link: https://www.econbiz.de/10013097112
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The Impact of Carbon Disclosure Mandates on Emissions and Financial Operating Performance
Downar, Benedikt - 2020
We examine whether a disclosure mandate for greenhouse gas emissions creates stakeholder pressure for firms to subsequently reduce their emissions. For UK-incorporated listed firms such a mandate was adopted in 2013. Using a difference-in-differences design, we find that firms affected by the...
Persistent link: https://www.econbiz.de/10012823063
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Public Disclosure of Foreign Subsidiaries and International Tax Avoidance
Herbert, Tanja - 2016
Our study analyzes the relationship between public disclosure of group structures in Exhibit 21 and international tax avoidance of U.S. multinational firms. Several U.S. multinational enterprises have removed a substantial number of foreign subsidiaries from their Exhibit 21 since 2010. Our...
Persistent link: https://www.econbiz.de/10013004062